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MSME jobs in India cross 19-crore mark: Govt data

May 10, 2024

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This included 4.27 crore women employees and 2.15 crore employees in enterprises not covered under the Goods and Services Tax (GST) regime or exempted from the CGST Act, 2017 and the job count has grown 6.8 times. The revision in the definition of MSMEs provided ease in doing business and promoted investment and employment.

Moreover, the launch of the Emergency Credit Link Guarantee Scheme (ECLGS) had eased liquidity problems of MSMEs, leading to a reduction in their Non-Performing Assets (NPAs). The previous definition of MSMEs was based on investment up to Rs 10 crores in plant and machinery, while the new definition notified in June 2020, covered enterprises with turnover up to Rs 250 crore and investment up to Rs 50 crore under the MSME ambit.

The data on the temporary or permanent loss of jobs in the MSME sector is not maintained by the Government as MSMEs are present in both formal and informal sectors.

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